Less than a month after Rio Tinto Group's (NYSE:RIO) CEO Jakob Stausholm told Reuters that he was bullish on lithium but not seeking any big acquisitions, Reuters has now also recently reported that the mining giant has now earmarked $350 million for its Rincon lithium project in Argentina. The news of the 9-figure investment came shortly after Stausholm visited the site and declared the strategic importance of the investment. "The hard work of our Rincon team is laying the groundwork for our first lithium production by year's end," said Stausholm. Rio Tinto acquired the project in 2022 from Rincon Mining for $825 million, and is preparing to establish a battery-grade lithium carbonate plant capable of producing 3,000 tonnes annually upon completion.
First production by years end ? Impressive ?
If we don't get the filtration issue sorted, we can wheel borrow the gear up the road to get it processed ? Lol..
